Cornercap Investment Counsel Inc. Has $458,000 Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Cornercap Investment Counsel Inc. cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 71.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,007 shares of the biopharmaceutical company’s stock after selling 20,204 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Halozyme Therapeutics were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Congress Asset Management Co. increased its stake in Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after buying an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Halozyme Therapeutics by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after purchasing an additional 209,530 shares during the period. Epoch Investment Partners Inc. increased its holdings in Halozyme Therapeutics by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after purchasing an additional 270,579 shares during the period. Finally, American Century Companies Inc. increased its holdings in Halozyme Therapeutics by 9.7% in the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock valued at $43,002,000 after purchasing an additional 72,544 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $45.65 on Friday. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $65.53. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.54 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The firm’s 50-day simple moving average is $56.04 and its 200 day simple moving average is $53.38.

Insider Buying and Selling at Halozyme Therapeutics

In other news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total transaction of $592,000.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares in the company, valued at $40,063,244.80. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 70,000 shares of company stock worth $4,042,500. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. HC Wainwright increased their price target on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, TD Cowen increased their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.11.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.